PSD2: the promise of the payment disrupter of 2018

PSD2 creates opportunities for new bank consortiums and partnerships to form and it’s up to the key players to determine their roles and leverage these partnerships. 2018 is set to be a game-changer for retail banking in the EU. The Second Payment Services Directive (PSD2), which took effect on January 13th, has the potential to disrupt every aspect of the industry.
While there are understandably apprehensions about the outcomes of this new regulation, like its predecessor PSD1, PSD2 is likely to catalyse innovation and startups. Ten years from now we will no doubt look back and see it as an enabler, for unicorns [1] and for transformation of firms which are already well-established. All key players will ultimately benefit from it. Read more…